All Fed Reserve Banks, Total Assets Less Consolidation Elim.

Source:
Board of Governors of Fed Reserve System

Release:
Factors Affecting Reserve Balances

Units:
Millions of US Dollars, Not Seasonally Adjusted

Frequency:
Weekly, as of Wednesday

Available Through:
11/30/2021

Why Use:

This metric measures how money is flowing through the financial sector.

Suggested Treatment:

The data shows autocorrection and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Yeo Johnson variable will also perform well.

Grain Transformation:

Data is able to be distributed by time but not by geography. The roll up method used is Sum.

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All Fed Reserve Banks, Total Assets Less Consolidation Elim.

Auto Correction Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Seasonal Impact

Seasonal and Trend Decompostion

Autocorrectation Analysis:

Data shows autocorrectation indicating a need for differencing

The ACF indicates 2 order differencing is appropriate.

Further differencing is reccommended

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 1.70 p-value = 0.01 indicates that the data is not stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.76 with a p-value =0.00 indicating the data does not follow a normal distribution.

A skewness score of -1.15 indicates the data are substantially skewed.

Hartigan's dip test score of 0.05 with a p-value of 0.00 inidcates the data is multimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
10.50
Box-cox
9.32
Log_b(x-a)
11.78
sqrt(x+a)
10.87
exp(x)
NA
arcsinh(x)
11.78
Yeo-Johnson
7.64
OrderNorm
1.17

Citation:

Board of Governors of the Federal Reserve System (US), Assets: Total Assets: Total Assets (Less Eliminations From Consolidation): Wednesday Level [WALCL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/WALCL, December 19, 2019.

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